Enfinity Global Inc. has completed the sale of a minority interest in its 400 MW operational solar portfolio in the United States to Kyushu Electric Power Co. Inc. This strategic partnership sees Kyushu Electric acquire a 40% stake, while Enfinity Global retains the majority with 60% and continues to manage the assets for the long term. This transaction encompasses 28 solar photovoltaic power plants located in California, North Carolina and Idaho, formalized by a definitive agreement in September 2023.
Expansion and diversification at Enfinity Global
Enfinity Global aims to expand its proprietary pipeline in the United States, currently estimated at 11.6 GW, through future investments in M&A transactions and partnerships with renewable energy developers. The company recently acquired 546 MW of solar assets under development from CS Energy, located in Colorado. These steps reflect Enfinity Global’s strategy of growing and diversifying its renewable energy portfolio, aligned with a commitment to the US energy transition, which faces many challenges.
Alignment with sustainability objectives
Carlos Domenech, CEO of Enfinity Global, talks about the importance of collaborating with investors who share a similar long-term vision and objectives in the energy sector. The alliance with Kyushu Electric is presented as an opportunity for Enfinity Global to promote decarbonization, achieve attractive returns and benefit from reliable operational management. This partnership underlines our mutual commitment to achieving sustainable development and global decarbonization objectives.
The agreement between Enfinity Global and Kyushu Electric represents a significant milestone for the U.S. solar energy sector, testifying to the growing interest in large-scale renewable projects. This collaboration highlights a strategic approach aimed at boosting renewable energy production capacity and accelerating the transition to cleaner, more sustainable energy sources. It also illustrates the importance of international partnerships in the pursuit of global climate objectives.
